Kim Kardashian’s shapewear company has experienced an explosive surge in value, hitting a remarkable $4 billion.
Skims’ achievement is particularly noteworthy, as many initially underestimated the brand’s potential upon its launch, making its remarkable $4 billion valuation even more impressive.
Skims has managed to maintain its strong momentum, showcasing the rising business potential of the Kardashian family.
Fueling the Fashion Fire
The recent funding round has provided a significant boost to the brand.
It is led by Wellington Management and supported by Greenoaks Capital Partners, D1 Capital Partners, and Imaginary Ventures.
With this new infusion of funds, Skims plans to focus on product innovation and expand its portfolio.
Excitingly, they’re also gearing up to open a much-anticipated flagship store in LA in early 2024, a venture that was announced just last month.
Wellington Management expressed their enthusiasm, recognizing the pivotal role the funding will play in cementing Skims’ leadership position in the retail market.
It also reflects the brand’s enduring strength as it enters its next phase of growth.
Skims’ journey to prominence has been nothing short of extraordinary.
Back in January 2022, they raised a $240 million in a Series B funding round, which pushed their valuation to $3.2 billion.
Now, with a 100% growth rate expected this year, they are well on their way to becoming a $1 billion company.
Skims rose to fame after its founding in 2019.
Thanks to its iconic neutral-toned bodysuits and remarkable body-shaping capabilities.
Skims has managed to maintain unwavering momentum and build a strong connection with the new generation of consumers.
Kardashian’s 360 million Instagram followers play a pivotal role in leading powerful events for the brand’s benefit.
In conclusion, Skims’ success story presents how innovation, determination, and a touch of Kardashian magic have made them a powerful force in the retail market.
As the brand enters its next growth phase, it will solidify its position as an industry leader and continue its upward trajectory.
Banner photo via Instagram @kimkardashian.